Filing GST Returns

Form GST F5 is the return that a GST registered person has to submit at regular intervals. A GST registered person accounts for the output tax collected and claims the input tax incurred in this return.

Form GST F5 is issued to a GST registered person on a quarterly basis i.e. once in 3 months. A GST registered person receives the Form GST F5 in the last month of each quarter. If he opts for a monthly accounting period, then Form GST F5 is sent to him on a monthly basis.

Form GST F5 must be completed and submitted to the Comptroller not later than 1 month after the end of the prescribed accounting period.

For example, if Form GST F5 is issued to you for the prescribed accounting period from 1 January 2006 to 31 March 2006, you need to furnish the duly completed and signed return to the Comptroller by 30 April 2006.

Other GST Transaction Forms

Form GST F7

Form GST F7 is a return that a GST registered person can use to rectify any error made in Form GST F5.

Form GST F8

This is the final GST return that you need to file before you are de-registered from GST.

Payment of GST

Payment refers to the amount of tax payable by a GST registered person. It must be made within 1 month after the end of the accounting period.

However, if you are under the GIRO scheme, an electronic direct debit mechanism, your tax payable will be deducted from your bank account on the 15th day of the month after the due date for submission of Form GST F5.

For example, if you have filed Form GST F5 for the prescribed accounting period from 1 January 2006 to 31 March 2006 before 1 May 2006, your tax payable will be deducted from your bank account on 15 May 2006.